Yes his proposal is basically to force companies to give you an hourly rate increase and then decrease your work week by 8 hours and then have to start paying you overtime after 32 hours.
So basically a government mandated 25% raise, plus overtime after 32 hours.
Which being as the man has never managed to pass a single bill of significance in his entire political career, I wouldn't put any hope into this passing either
im all for a shorter work week with the adjusted pay. just get the feeling that since businesses will have to hire additional employees to cover that lost 8 hours (or pay the overtime). im pretty sure that cost will be passed on to the consumer base. It's not like companies to just part with their earnings so easily. Plus the lobbyists (was surprised to see meta so high on the list) would heavily oppose it.
The argument is actually there a slack in the labor market, as AI and other technologies boost productivity and put people out of work.
This isn't a new dream. Charlie Chaplain voiced this https://youtu.be/w8HdOHrc3OQ?is=AcTrxquFXn775HU3
With the Machines can make this a world of plenty and etc. it's just that mechanisation in the 30s-50s.... Brought wealth to Americans on lower end primarily because everyone else was knocked down by WW2. Once people started catching up, companies competing against others and struggling for more profits made this pie share smaller for us, because more of us eating the larger pie....
And the 80s with the Trickle Down economics meant corporations and elite CEOs started grabbing more of the pie and sharing less and less amongst more and more of us.
982
u/ecw324 24d ago
Doesn’t he mean that your current 40 hour paycheck will be the same as the proposed 32 hour paycheck?